By William Gullotti
Buffalo, N.Y., Aug. 16 – GS Finance Corp. priced $12 million of 6.3% trigger callable yield notes due Nov. 15, 2023 linked to the performance of the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes are callable at par on any monthly coupon payment date after three months.
The payout at maturity will be par of $10 unless the ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline from initial level.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable yield notes
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| Underlying fund: | SPDR S&P 500 ETF Trust
|
| Amount: | $12 million
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| Maturity: | Nov. 15, 2023
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| Coupon: | 6.3% per year, payable monthly
|
| Price: | Par of $10
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| Payout at maturity: | Par unless the ETF finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Call option: | At par monthly on any coupon date after three months
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| Initial level: | $419.99
|
| Downside threshold: | $251.99; 60% of initial level
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| Strike date: | Aug. 10
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 15
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 36264Q297
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